It will be the first game played at the ground, which adjoins the Millennium Stadium in the city centre, since the Blues moved to Cardiff City Stadium in 2009.
Fans have been reluctant to embrace the new location and in turn attendances have been poor.
Currently, only the semi-professional side Cardiff RFC, who compete in the Principality Premiership, use the Arms Park as their home.
Blues Chairman Peter Thomas recognised the discontent among the fanbase. He said: “I am pleased the club is exploring all available options."
“Playing this match at the Arms Park shows that we are listening to our fanbase.”
Some fans may see this as the first step in a long term plan to get back to Arms Park but Blues Chief executive Richard Holland said the club is dedicated to their 20-year lease at Cardiff City Stadium.
“There are no long term plans to move back to the Arms Park permanently," he said.
“However, we have listened to what our supporters are saying and it should be a great occasion to play this match at Arms Park.”
He refused to rule out future returns to the stadium, saying: “We are taking a view of it match by match."
“Connacht is one which would be generating a huge crowd at Cardiff City Stadium so it is a good one for us to try out the Cardiff Arms Park on Friday."
“We could get a gate which will talk with its feet because of a desire to play more games there.”
Cardiff Blues captain Paul Tito has given his and the team’s approval to the move. He said: “I think the games that don’t attract the big crowds should be there. I think all the LV games should be there. Especially when, at the weekend, we only had 2,000 at the game, why not spread it around?”
The Kiwi added: “Obviously the changing rooms aren’t as flash as we’re used to but we’ll try to make it a lot worse for Connacht than it is for us.”
Outside half Ceri Sweeney agreed with his captain’s sentiment: “The boys are really looking foward to it," he said.
“I think it suits the current environment, with people not having as much money, I think credit is due to the boys upstairs."
“They are trying to raise the profile of the club and get a few more bodies through the door.”
Fans of the team have also given the move a tentative welcome. Committee member for the Cardiff Blues Supporters’ Club, Graham Prance, believes a permanent move back to the Arms Park would be welcomed by “99 per cent” of the club’s fans, coaches and players.
“It’s the home of Cardiff Rugby,” he said. “The facilities need updating, but it’s where the fans want to watch the Blues play”.
The Supporters’ Club held a meeting last night, attended by Mr Holland, coach Gareth Baber and a number of the club’s players. All, according to Mr Prance, would favour a return their old stomping ground.
Cardiff Blues have ground shared with Cardiff City Football Club since the summer of 2009, at the 26,500 capacity stadium in Leckwith.
“Initially, I was all for the move”, said Mr Prance, who is a supporter of both the football and rugby sides. But since the move, a certain rivalry has emerged between supporters of the two teams – Prance himself was refused service trying to buy a Cardiff City football ticket as he was wearing a Cardiff Blues jacket.
“It’s a fantastic stadium, but perhaps it’s a bit big for rugby”, he added.
Questioned as to whether he believed a benefactor or sponsor would step in to make the necessary updates to Cardiff Arms Park, Prance said he did not know.
“We’re yet to hear any rumours, but I think the support would be there,” he said.
The match against the Irish province kicks off at 7.30pm on Friday, with individual tickets priced at between £5 and £15.
The Blues have revealed all season ticket holders, premier club members and supporters who have already purchased tickets for the match do not need to take any action as their tickets are
valid for the fixture.